The US dollar slumped as President Trump’s tariff announcement sent shockwaves through global markets. With a 10% baseline tariff on imports, fears of a global economic slowdown intensified. Investors sought safe havens as stock markets and currencies faltered.
The US dollar slid while the euro firmed after President Donald Trump announced harsh new tariffs on imports, sending shockwaves through global markets. The 10% baseline tariff, with higher levies on key trading partners, is set to take effect on April 9, impacting around 60 countries.
The move escalates trade tensions, fuelling fears of a global economic slowdown. Investors scrambled for safe-haven assets, boosting the yen and Swiss franc, while US Treasury yields plunged. Stock markets also suffered as concerns over inflation and retaliatory measures grew.
European Commission President Ursula von der Leyen warned of potential countermeasures if diplomatic talks with Washington fail. Meanwhile, the euro strengthened, while the British pound surged to a five-month high. In contrast, Asian currencies weakened, with China’s yuan hitting a two-month low.
Market analysts caution that prolonged trade disruptions could weigh heavily on the US economy, increasing the likelihood of recession. However, some experts suggest Trump’s aggressive stance may be a negotiation tactic rather than a long-term economic strategy. As global markets remain on edge, investors await further developments that could determine the course of the unfolding trade conflict.
The Trump administration has approved its first U.S. weapons aid packages for Ukraine under a new mechanism that allows arms from U.S. stockpiles to b...
At least 13 people have been injured in two shootings in Minneapolis within 12 hours, police said....
The Israeli army has begun a large-scale ground offensive in Gaza City as part of “Operation Gideon’s Chariot 2,” the military said....
U.S. President Donald Trump said on Tuesday the leader of Australia, Prime Minister Anthony Albanese, would be coming for a visit to see him soon....
Russian President Vladimir Putin flew to the Nizhny Novgorod region on Tuesday to observe joint Russian-Belarusian military drills, state television r...
Houthi Prime Minister Ahmed al-Rahawi was reportedly killed alongside several of his associates in the recent Israeli strikes in Yemen according to reports from local media.
Bulgaria reported outbreaks of highly pathogenic avian influenza on three farms in the southern part of the country, the World Organisation for Animal Health (WOAH) said on Monday, as Europe faces a seasonal upturn in the deadly disease.
King Charles III of Great Britain and Queen Camilla attended the 80th anniversary commemoration VJ Day in Britain on Friday.
Portugal is reeling under the impact of extreme heat, which has claimed 264 lives in just one week.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
Google said on Tuesday it would make £5 billion pounds ($6.80 billion) in new investments into Britain ahead of U.S. President Donald Trump's state visit to the country, which is expected to feature a flurry of business deals and partnerships.
The founding family of Italiana Petroli is close to finalising the sale of the oil refiner to the State Oil Company of Azerbaijan (SOCAR), in a deal that would give the Azerbaijani group control of one of Italy’s largest petrol station networks, three sources have said.
India's retail inflation (INCPIY=ECI) rose to 2.07% in August as food prices edged up, although it remained within the central bank's tolerance range for the tenth consecutive month.
Jaguar Land Rover (JLR) said Wednesday that it now believes “some data has been affected” after a cyberattack forced the company to shut down operations last Tuesday. Staff have been instructed to work from home since the incident.
Oracle co-founder Larry Ellison has overtaken Tesla Chief Elon Musk as the world’s richest person after a surge in the company’s stock lifted his net worth to $393 billion, according to the Bloomberg Billionaires Index.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment